Solar Energy Exports from India Hiked by 223% in Q3 2018

Ambiguities as well as uncertainties are kind of curtailing the trajectory of the solar power sector in India. In the past months, a slowdown has been observed in solar power installations due to concerns over safeguard duty and pass-through option. GST issues too need clarification. The uncertainties arising from the requirement to sign bonds as well as declarations while doing imports of solar power components from Vietnam as well as Thailand too seem to have hurt the industry which was already reeling severe pressure. These countries were not initially included in the names of countries which attracted duty. This also looks to affect trading activity in the solar power sector such as Solar Energy Exports.

Singapore as a solar energy market has been able to double its share in the three month period, July to Sept 2018. Taiwan has gone ahead of Canada, Malaysia, Thailand, Vietnam as well as Hong Kong and was able to emerge as the third biggest supplier of solar cells and modules to India with a 3.8% of market share. This is the picture of Solar Energy Exports in India. Malaysia sent out 1.3% of all solar imports to India in Q3 2018. This is followed by countries like Thailand and Canada. They have a 0.7% each respective. Vietnam is at 0.6% and Hong Kong is at 0.4%. Indian imports of solar energy hiked in Q3 of 2018. As per data from Department of Commerce, solar cells and modules of around $602 million were imported in the third quarter of the year 2018. The number is about 38% higher than $436.63 million of solar cells as well as modules which were imported by India in the earlier period quarter of the year 2018. Import activity went was down 17 percent compared to the same quarter in 2017.